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HUDAR PART 2432--CONTRACT FINANCING


PART 2432--CONTRACT FINANCING


PART 2432--CONTRACT FINANCING

Sec.

Subpart 2432.1-- Non-Commercial Item Purchase Financing

2432.114 Unusual Contract Financing.

Subpart 2432.2--Commercial Item Purchase Financing

2432.201 Statutory authority.

Subpart 2432.4--Advance Payments for Non-Commercial Items

2432.402 General.

2432.407 Interest.

Subpart 2432.7--Contract Funding

2432.703-3 Contracts crossing fiscal years.

Subpart 2432.9--Prompt Payment

2432.903 Policy.

2432.906 Contract financing payments.

2432.908 Contract clauses.

Subpart 2432.1--Non-Commercial Item Purchase Financing

2432.114 Unusual contract financing.

The Senior Procurement Executive is the agency head for the purpose of FAR 32.114.

Subpart 2432.2--Commercial Item Purchase Financing

2432.201 Statutory authority.

The head of the contracting activity is the agency head for the purpose of FAR 32.201.

Subpart 2432.4--Advance Payments for Non-Commercial Items

2432.402 General.

(e)(1) The determination and findings required by FAR 32.402(c)(1)(iii) shall be made by the HCA.

(2) Each advance payment situation shall be coordinated with the head of the cognizant accounting office, before authorization may be given, to ensure that there are controls in place to assure proper administration of advance payments.

2432.407 Interest.

(d) The Senior Procurement Executive is the agency head's designee for the purposes of FAR 32.407(d).

Subpart 2432.7--Contract Funding

2432.703-3 Contracts crossing fiscal years.

(b) The contracting officer may enter into a contract, exercise an option, or place an order under a contract for severable services for a period that begins in one fiscal year and ends in the next fiscal year if the period of the contract awarded, option exercised, or order placed does not exceed one year.

Subpart 2432.9--Prompt Payment

2432.903 Policy.

The Senior Procurement Executive is the agency head’s designee for the purposes of FAR 32.903(b).

2432.906 Contract financing payments.

(a) Except for construction contracts (see FAR 52.232-27), periods for payment shorter than 30 days shall not be specified in contracts without the prior approval of the cognizant accounting office to ensure that procedures are in place to allow timely payment.

2432.908 Contract clauses.

(c)(1) The Contracting Officer shall insert a clause substantially the same as provided at 2452.232-70, Payment Schedule and Invoice Submission (Fixed-Price), in all fixed-price solicitations and contracts except those for commercial services awarded pursuant to FAR Part 12.

(2) The Contracting Officer shall insert a clause substantially the same as provided at 2452.232-71, Voucher Submission (Cost-Reimbursement), in all cost-reimbursement solicitations and contracts when vouchers are to be sent directly to the paying office. The Contracting Officer shall insert the billing period agreed upon with the contractor (see also FAR clause 52.216-7, Allowable Cost and Payment).

(3) The Contracting Officer may substitute appropriate language for the clauses in (c)(1) and (2) above when payment under the contract will be made on the basis of other than the submission of an invoice or voucher, e.g., directly from proceeds of property sales.

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